The State Oil Company of the Republic of Azerbaijan (SOCAR) and Chinese National Petroleum Corporation (CNPC) have today signed a Memorandum of Understanding in the fields of oil and gas and petrochemistry.

The document was signed by SOCAR President Rovnag Abdullayev and Vice President of the CNPC Wang Shihong.

The signing ceremony was held as part of the visit of member of the Standing Committee of Central Politburo of Communist Party, Senior Vice Premier of the State Council of the People's Republic of China Zhang Gaoli to Baku.

Azerbaijani Deputy Premier Abid Sharifov and Chinese Deputy Commerse Minister, International Trade Representative of the Ministry Zhong Shan signed an agreement on technical-economic cooperation between the Government of the Republic of Azerbaijan and the Government of the People’s Republic of China.

Azerbaijani Prime Minister Artur Rasizade and member of the Standing Committee of Central Politburo of Communist Party, Senior Vice Premier of the State Council of the People's Republic of China Zhang Gaoli were also present at the signing ceremony.